Prudential Financial Inc. raised its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 73.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,581 shares of the aerospace company’s stock after buying an additional 77,490 shares during the quarter. Prudential Financial Inc. owned 0.43% of Curtiss-Wright worth $23,338,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Curtiss-Wright by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 456,955 shares of the aerospace company’s stock worth $46,663,000 after purchasing an additional 34,519 shares in the last quarter. Brinker Capital Inc. acquired a new position in Curtiss-Wright in the first quarter worth approximately $202,000. Quadrant Capital Group LLC increased its holdings in Curtiss-Wright by 836.5% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock worth $65,000 after buying an additional 527 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Curtiss-Wright in the first quarter worth approximately $209,000. Finally, Alps Advisors Inc. increased its holdings in Curtiss-Wright by 7.9% in the first quarter. Alps Advisors Inc. now owns 3,525 shares of the aerospace company’s stock worth $400,000 after buying an additional 258 shares during the last quarter. 76.14% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the company. ValuEngine upgraded Curtiss-Wright from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $138.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Zacks Investment Research upgraded Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $139.20.
CW stock traded up $2.93 during midday trading on Thursday, hitting $126.60. 3,073 shares of the company traded hands, compared to its average volume of 182,669. Curtiss-Wright Corp. has a twelve month low of $95.23 and a twelve month high of $141.29. The company has a quick ratio of 1.41, a current ratio of 2.10 and a debt-to-equity ratio of 0.53. The business has a 50 day simple moving average of $123.35 and a 200-day simple moving average of $118.60. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, July 31st. The aerospace company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.77 by $0.13. Curtiss-Wright had a return on equity of 18.54% and a net margin of 11.90%. The company had revenue of $639.00 million for the quarter, compared to the consensus estimate of $642.66 million. During the same quarter last year, the company posted $1.80 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Curtiss-Wright Corp. will post 7.12 EPS for the current year.
Curtiss-Wright announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 15th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director S Marce Fuller sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $122.90, for a total value of $122,900.00. Following the sale, the director now owns 10,222 shares in the company, valued at $1,256,283.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Charles Adams sold 7,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $130.01, for a total transaction of $910,070.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,608 shares of company stock worth $1,946,767. Corporate insiders own 0.90% of the company’s stock.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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